Micron to Lay Off 10% of Work Force

Memory chip maker says layoffs are part of an overall cost reduction push.

Micron Technology Inc., one of the top memory chip makers in the world, will lay off 10 percent of its more than 18,000 employees as it works to cut expenses.

The layoffs are part of an overall cost reduction push by the Boise, Idaho, company as it invests in its 0.11-micron chip-manufacturing technology in a difficult economic climate.

Other moves include a greater focus on products that utilize its latest process technology, according to company officials.

In a prepared statement, President and CEO Steve Appleton said the moves will enable Micron to "lower our cost structure, allow us to better focus our product portfolio, and continue to invest in new technology."